Archive for July, 2010

Money Weekly Cache 2010, July 25

July 25th, 2010

Weekly Thoughts:

This is the hottest July I remember in a long time.  It’s been a good time, and he have taken advantage of it by going wave running more than a few times!   We only got to go out boating once, our schedules are hectic considering the kids are off for summer break!

My Favorite Reads of the Week:

My Favorite Post from Money Reasons:

My favorite post this week a fun little piece called “If I Were Rich Today!“, and I have to admit, I had a lot of fun writing it!  If you get a chance, go ahead and comment on what you would do if you were rich!

Carnivals and Mentions:

Closing Thoughts:

Summer is moving fast that expected (but it’s always like that…), our big vacation isn’t slated until mid-August.  Based on the heat this year, it’s going to be a rough!!! 

I was telling my wife that it feels like we are down there already… at least the heat portion of it.

Today, I’m just going to chill out and enjoy the weather on my deck.  Currently, we are at the grandparent’s house… the kids are doing cannonballs into their pool.  SPLASH!!!

Enjoy the summer!!!

-MR

"Enjoy Your Money!" Winner From Money Reason's First Giveway!

July 23rd, 2010

Well, it I finally ran the random number generator at Random.org.  The sequence of numbers that came out after 3 tries were 4, 6 & 1.  So taking the 4th entry of the commenters that are participating, the winner is Crystal at Budgeting in the Fun Stuff.

Congratulations Crystal!!! 

The book is a great read or could also make a great present for someone in high school or just entering college!

Crystal,  I’ll be sending you an email for your snail mail address soonly. :)

Enjoy Your Money! was a great book, and I was very pleased and somewhat surprised at the quality!

So for my first giveway at Money Reasons, I don’t think I could have picked a better book to give away.

I’d like to personally thank the author for extending to me the opportunity for reviewing the book.  I also like the fact that he autographed the book too!

Thanks everybody, this was a great 1st giveway for me!

-MR

Here is the original link to the initial giveaway:  Enjoy Your Money (Book Review & Giveaway).

P.S.

If you are interested in learning some additional information about the book, you can go to the author’s (J. Steve Miller) website at http://www.jstevemiller.com/, and click on the “Current Work” tab.  There he goes on to provide some additional information about how he came up with the books, and a free online site that can be used to help kids!

Hmm, just skimming the site (www.enjoyyourmoney.org), I’m impressed with the level of depth that Mr. Miller goes beyond the book.  It’s pretty evident that the author believes in what he wrote and followed through with a great website to help kids get a great financial start!

If I Were Rich Today!

July 21st, 2010

I’d buy a yacht,  maybe…

Okay, I wouldn’t really buy a yacht, that would be too rich for me even if I had the money…  Although I might rent one for a few hours or maybe even a day during some future (after becoming rich) vacation!

For me the definition of rich would be:  where the money from after tax passive income equals my normal living expenses.

After I passed that magic threshold, I’d most likely plan for a big vacation with my family, perhaps a trip to Cancun or one of the islands in Hawaii, or some other place that we haven’t vacationed before because of the costs (or because of money reasons, lol).

After the celebration was over, I would start looking for a new job.  Why?  Because even though I’d be rich, I’d still like to be productive in the world.  Yes, I would make less money, but the beauty of the new job would be that the money would be all profit.  So I could literally afford to make less!  How cool would that be!!!

If I couldn’t find my dream job, maybe I try my hand at becoming an entrepreneur?  I do a little of this already, in previous years I sold items on eBay.  Hopefully some day blogging will make me some additional money.

Now for my list of things I would buy or do if I were rich:

  • Continually invest my money to make more money.
  • Consider and contribute to asset class diversification.
  • Research and buy investment real estate.
  • Buy, or build a house with 500 more square feet (than my current house) and with about 1 to 5 acres of land.
  • Buy 2 used newer cars than what we have. (or at least 1 used)
  • Contributed more to my kid’s college funds (529, etc)
  • Buy a small used boat for playing around with.
  • Save more money for cars to give to my kids once they become 16.
  • Consider a pool or hot tube for the family.
  • More activities for my kids (horse riding lessons, piano lessons, etc).

What would you do if you were rich today?  Or if you are rich, what am I missing in my list?

-MR

Are Kids Being Raised The Best They Possibly Could Be?

July 20th, 2010

I’m starting to doubt that my kids are being raised correctly. 

I starting to believe that my kids (really all of our kids) are not being raised the most optimally as possible!

Why do I use the word optimally?  Because our kids are raise much better than some countries and overall, they have a very easy life.  But in a world where kids watch that very influential educator Mr. TV, are they really learning developing a sense of what is important in life?

Are we molding our children’s mind based on the teaching of the very influential Sponge Bob?  Are they learning to be goofy goobers?

What if we readers, were also raised as goofy goobers, but in a different generation?  Now we have a society of older goofy goobers teaching kids to be new goofy goobers, by letting them watch mind numbing shows similar to what we watched as kids…  No wander immigrants are more inclined to become entreupenuers that the local born population.

But even more importantly than restricting the amount of TV they watch, are we teaching them on how to be responsible and helping them to develop skills?  Currently, my kids don’t do any chores at all.  I’m starting to think this may be spoiling them.  Perhaps they believe that things should just magically happen for them?  I think that if all they experience growing up is good times, then when they are an adult, life may be difficult for them.  Any mild downturn, may confuse and frustrate them.  Will adult life be disappointing and unfulfilling for them?  Perhaps a little pain growing up make the pain later in life more manageable?

While nothing has caused me to write about this topic, it does have me wondering if I’m doing the best job of teaching and raising them as I possibly can. 

I’m don’t have a manual for what to do, so I try to give an equal balance of things that I think are important for them and their growth.

Ironically, I believe I have a good grasp around the financial teaching… it’s the other stuff I’m worried about!  This seems to be opposite to the general population.

-MR

Big Crash, Time To Invest?

July 19th, 2010

Last week’s big gains was washed away by the stock market’s harsh dip this past Friday (DOW was slipped -261 points).

The market seems so choppy, is it time to packup the wagon and head to the hills?

I’d say no… WhyBecause Warren says so!

Warren Buffett exclaimed that he doesn’t believe a double dip scenario is in the work, nor is a great depression.  He then goes on to say that all of the 80+ businesses that his company Bershire Hathaway owns are doing better than in 2008, plus he said that some of the companies are even hiring new people on board (albeit at a slow rate).

So why should I believe what Warren Buffett says?  Afterall, he continuously states that he can’t predict the future movement of the markets!

Well, based on the biography “The Snowball” written about him, he doesn’t make predictions lightly.  Plus, he has empirical evidence (the pretty diversified businesses that his company owns), that gives him first hand information on the state of the economy!

So if Warren said it’ll be okay and we are coming out of the recession, and we are not going into the double dip scenario, I tend to listen with perked up ears!  Time will tell, but if I were a betting man, I’d definitely bet on Mr. Buffett above all others! 

Afterall, his stock Bershire Hathaway cost over $115,000 for just one share!  When Warren took over Bershire Hathaway, it was valued around $19 for one share.  So Warren must know a thing or two!

-MR

pfblogs.org logo

Disclaimer: This site is for informational and entertainment purposes only, and the content herein should not be mistaken for professional financial advice. It is highly recommended that you seek advice from a professional for serious financial matters. This site and its author may be compensated for expressing personal opinions regarding featured products and services.